HB 2042--
By Committee on Judiciary

AN ACT concerning fiduciary security transfers; relating to tax obliga- tions; amending K.S.A. 17-4911 and repealing the existing section. Be it enacted by the Legislature of the State of Kansas: Section 1. K.S.A. 17-4911 is hereby amended to read as follows: 17- 4911. This act The uniform act for the simplification of fiduciary security transfers does not affect any obligation of a corporation or transfer agent with respect to estate, inheritance, succession or other taxes imposed by the laws of this state. For purposes of the lien imposed by K.S.A. 79-1569, and amendments thereto, however, a transfer made under the provisions of such act shall be deemed to have been made in accordance with law, and a corporation or transfer agent need not require that a fiduciary furnish a consent to transfer as proof of release of the lien prior to the completion of a transfer made under the provisions of such act. Sec. 2. K.S.A. 17-4911 is hereby repealed. Sec. 3. This act shall take effect and be in force from and after its publication in the statute book.